Fiserv Moves to Reinvent Payments Infrastructure with Acquisition of
Dovetail

BROOKFIELD, Wis.--(BUSINESS WIRE)--Fiserv,
Inc. (NASDAQ:FISV), a leading global provider of financial services
technology solutions, today announced it has acquired Dovetail Group
Limited, a leading provider of bank payments and liquidity management
solutions. This acquisition further enables Fiserv to help financial
institutions around the world transform their payments infrastructure to
meet the evolving needs of wholesale, commercial and retail customers.
Financial terms were not disclosed.

As the global payments landscape evolves, financial institutions of all
sizes are challenged to modernize their payments infrastructure and
provide enhanced capabilities that improve payment outcomes, leverage
efficiency, and maintain the highest standards of security and
resilience. Through this acquisition, Fiserv will combine Dovetail’s
real-time payments platform, modular services and configurable business
processing rules with its market-leading payment capabilities, enabling
financial institutions to unify discrete solutions into a fully
integrated payments infrastructure. This enhanced platform will provide
intelligent, data-driven payment processing and deliver the flexibility
to integrate new capabilities and payment types at the speed of payments
evolution.

“As payments transform at the speed of life, we expect to enable
financial institutions to influence and direct a larger share of the
payment value chain,” said Jeffery Yabuki, President and Chief Executive
Officer, Fiserv. “Together, Dovetail’s strong capabilities and our
market-leading solutions create a powerful combination for Fiserv to
deliver differentiated value for financial institutions and their
customers.”

Built with real-time in mind, the Dovetail payments platform provides
the foundation for Fiserv to offer financial institutions a broader
range of solutions and services. In the U.S., this includes the
foundation for advancing its industry-leading PEP+® ACH
processing solution and a comprehensive real-time payments offering with
integration into the NOWSM Network for payments and
transfers, the Turnkey Service for ZelleSM and The
Clearing House Real-Time Payments scheme. In Europe, the new
organization will be in a strong position to support financial
institutions with legacy system replacement and the shift to real-time
through, for example, SCT Inst (across all operators) and UK Faster
Payments. Elsewhere globally, Fiserv will be able to support its clients
in the move to real-time, the introduction of richer payment
information, and SWIFT gpi.

The enhanced platform, and related group of integrated solutions and
services, will be available on premise, and will also be deployed as a
cloud-based service (SaaS) with superior customer and segment
personalization.

“Dovetail has an established track record of delivering industry-leading
payments transformation capabilities to banks of all sizes worldwide,”
said Martin Coen, Chief Executive Officer, Dovetail. “Joining Fiserv
should dramatically accelerate our strategy to provide broad access to
our payments platform and services, and to unlock greater value for
financial institutions as they seek to modernize their payments
infrastructure to support a real-time, digital experience for their
customers.”

Forward Looking Statements

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding the expected benefits of the transaction
for Fiserv and financial institutions and their customers. Statements
that describe the future plans, objectives or goals of Fiserv are also
forward-looking statements. Forward-looking statements are subject to
assumptions, risks and uncertainties that may cause actual results to
differ materially from those contemplated by such forward-looking
statements. The factors that may affect the anticipated outcomes
include, among others: the company’s ability to successfully integrate
the Dovetail business and to realize the anticipated benefits associated
with the same; and other factors included in the company’s filings with
the SEC, including the Fiserv, Inc. Annual Report on Form 10-K for the
year ended December 31, 2016 and in other documents that Fiserv files
with the SEC. You should consider these factors carefully in evaluating
forward-looking statements, and are cautioned not to place undue
reliance on such statements. Fiserv assumes no obligation to update any
forward-looking statements, which speak only as of the date of this
press release.

About Dovetail

Dovetail provides best-in-class payments and liquidity management
solutions that enable banks to simplify their infrastructure and deliver
effective digital transformation. All solutions, based on a single
real-time architecture, are available on premise or in the cloud,
scalable up and down, across functional and volume needs and offer
unrivalled customer and segment personalization. The choice of solution
provides flexibility for a bank in setting the pace of its
modernization, addressing point needs or replacing multiple legacy
systems. Leveraging the continuing investment from Dovetail and its
world-leading client base, banks can rapidly achieve a measurable return
on investment, increase strategic agility and operational excellence,
optimize total cost of ownership and ensure regulatory compliance. For
more information, visit Dovetailsystems.com.

About Fiserv

Fiserv, Inc. (NASDAQ:FISV) enables clients worldwide to create and
deliver financial services experiences that are in step with the way
people live and work today. For more than 30 years, Fiserv has been a
trusted leader in financial services technology, helping clients achieve
best-in-class results by driving quality and innovation in payments,
processing services, risk and compliance, customer and channel
management, and insights and optimization. Fiserv is a member of the
FORTUNE® 500 and has been named among the FORTUNE Magazine
World's Most Admired Companies® for four consecutive years,
ranking first in its category for innovation in 2016 and 2017. For more
information, visit Fiserv.com.